Forget GE Stock, Buy This Industrial Stock Instead
General Electric (NYSE: GE), despite its iconic name, has been working for more than a decade to get its business back on track. And the global pandemic has only made it harder.
If you are looking at potentially investing in GE stock right now, you really should consider equally iconic 3M (NYSE: MMM) instead. It's got its own headwinds, but this industrial stock is in much better shape today. Here's what you need to know about why this industrial stock is a better option than GE.
By the time the deep 2008-09 recession hit, General Electric had allowed its finance arm to spread well beyond its original purpose of helping customers buy GE products. The company's expansion into non-core businesses, including insurance and mortgages, led to asset write-downs, asset sales, a dividend cut, and a government bailout.
Source Fool.com
